Tenants bid for property

The latest 're-invention' of the rental property world is a website that allows tenants to bid for rental property in the same way as those buying a property at auction.

The new website is called thepropertybid.com. It's the 'brainwave' of Jonathan Ambrose a building surveyor. Good luck to him, we need more people prepared to give business a go and have the courage of their conviction. Two potential problems with his website the first is scale. It will only work if enough people use it and there the rub. Tenants and landlords will only use it if they can see that enough properties and tenants are utilising it first. The other issue is that it only really works where there is excess demand for rental property; say in the centre of London. Otherwise the lack of bidding activity is not really going to set a fair market rent.

The website appears to have been a previous winner of the 2010 letting awards. This goes to prove another one of my theories. Not all award winners are winners or is this just the embittered view of a website owner who has never won one!

Landlord insurance - professional rates

Reverse Order of Forms in PM3

We're releasing a number of small improvements at the moment - watch this space. Today's addition is a button to reverse the order of Forms. Currently, the oldest ones show first, but we can see why you'd want the newest ones at the top.

Clydesdale raises to 80% LTV

Clydesdale Bank have joined five other BTL lenders in raising their LTVs back to the heady heights of 80 per cent.

The other high LTV lenders at 80 percent are The Mortgage Works, Kent Reliance Banking Services, Saffron Building Society, Leeds Building Society and Aldermore Mortgage.

Use our whole market BTL search tool here FREE

An Electric Boiler Query?

Can anyone help Rozanne? She contacted us recently after reading the article about the Green Deal. My experience of electric boiler is non existent. Maybe other landlords have come across them in their travels and could point her in the right direction?

"Thank you for this information which is interesting. One issue which I think might be linked to this is the latest requirement for gas fired boiler flues to have an inspection hatch within 1.5 metres of any join. This has to be in place by the end of 2012 and will be part of all future gas boiler servicing. Any boiler not found to be compliant by the end of this year will be condemned. My research has shown that to satisfy this new requirement could cost up to £1,000 and result in unsightly inspection hatches in the ceiling of rooms through which the flue goes. As a result I am inclined to switch from gas fired boilers in my rental flats to electric boilers as these have the added benefit of not needing annual safety inspections and certificates. I wonder how the Green Deal mentioned in your article will affect this? I have found it quite difficult to find impartial advice on which electric boiler to fit and if you are aware of any source of this information I should be most grateful to have it."

Landlord insurance - market beating rates

Tax deadline extended

Any landlords who are desperately trying to complete their online self assessment will be relieved to find out that they have an extra 2 days to file their online tax return.

For many landlords this weekend could be a taxing one as they struggle to finalise their figures. Try using our PM3.0 software to compile your land and property figures.

Here are a few tax saving tips that might just help massage the figures down!

Free property management software, Free tenancy agreements

Landlord licences on student property

Brighton landlords may have to pay £700 for a landlord licence on student houses.

The council says that it would help manage the problems of late night noise in student areas if they are provided good quality housing? Because? Because if you have a nice house as a student you're less likely to go out drinking? Obviously Brightons local councilors never went to university, well butchers don't I suppose, aren't most councilors aged butchers?
Now don't we all know the true reason, it's a good way of raising extra cash without effecting your local vote popularity. Lets face it students won't vote in the council elections and most landlords don't vote at all, as that would involve recognising that they are answerable to 'the man'.


The Council leader Bill Randall (I'm not sure if he's a butcher or retired butcher) said: "This would benefit the community where it's about the litter and the noise from student houses." WHY?

David Cichon, local student president said that costs for licensing would just be passed on to students.

Yes of course David, but local councilors don't care because you're not local and none of you will vote in the local elections anyway. Just put it on your student loans and move on off to London when you've finished your studies. Feel free to move back when you've finished with the late night partying. Maybe when you've got young children.

David goes on to say "It will decrease the quality of housing and increase the price of housing for students in Brighton." So, just give us the £700 so we can spend it on the locals.

Landlord licences, a great way for local councils to raise cash in times of austerity without upsetting the local voters.